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Sustainability for us

Catella Fondförvaltning AB, today manages funds with different management styles and risk profiles. We offer four types of funds and investment models; alternative funds, equity funds, fixed income funds and mixed funds. Our geographical focus and knowledge are concentrated on the Nordic region.

Sustainability factors have become increasingly business-critical over the years and can offer opportunities as well as risks due to increased global awareness of worldwide challenges, as well as clients' increased insight into the area. Catella signed UNPRI, the UN's Principles for Responsible Investment, in September 2009 as part of the work of being a responsible investor and owner. UNPRI's 6 principles form the basis of our sustainability efforts. We believe that increased focus on sustainability contributes to the value development of the funds by highlighting risks and opportunities for the portfolio companies. Catella continuously develops its work on sustainability issues and aims to increase the ambition of all products.

Sustainability in the investment process

Investment decisions in the funds are based on the fund managers' company analyses, in which we seek companies that are correctly positioned for the future, where factors such as business model, market position, development opportunities and risks are analysed. Sustainability factors are assessed in parallel with financial factors to evaluate the company - and ultimately the potential of the stock. A company's sustainability profile is evaluated based on both the risk aspects and the opportunities.

The funds' investment universe is reviewed semi-annually based on international norms, conventions and negative criteria. Currently, no company in the SIX RX and VINX indexes is affected. If a portfolio company is assessed as being in violation of the above principles, the fund manager concerned adopts an active position on how a holding is to be managed. These positions must be justified and documented.

Sustainability in governance

Through its managed funds, Catella is the owner of many Swedish listed companies, which carries a responsibility and an opportunity to influence the portfolio companies. We focus our responsibility and thus our impact on the portfolio companies in which we have a larger shareholding, because that is where we can do the most good. The purpose of our ownership is to utilise the common interests of the unit holders in governance issues and contribute to the long-term, sound development of the portfolio companies and the financial market. We work for increased overall transparency and reporting within Environment, Social and Governance (ESG).

Ownership includes more specifically:

  • Our fund manager conducts a continuous dialogue with the portfolio companies leading senior executives regarding their sustainability work, as an integral part of the fundamental analysis.
  • We participate selectively in election committee work, including proposals for Board members and the Chairman of the Board to be presented to the AGM and as the ultimate method of influence, we can use the fund's voting rights at AGMs.
  • We participate selectively in owner dialogues specifically within sustainability. - For example, with Nobia, where we engaged in a dialogue with them in 2016 regarding their sustainability reporting.

Sustainability and theme funds

In the future, with our UNPRI signature as the starting point, we will have higher ambition regarding our internal sustainability efforts, both in terms of internal investment processes and in the product offering.

Resources and commitments for sustainability

The fund managers are responsible for working according to Catella's internal guidelines, which include sustainability factors as part of the investment process. The fund managers have a daily responsibility to monitor the portfolio companies in which the fund has invested. Information about the company is obtained from analysts, media and company dialogues. This applies to all Catella's equity funds excluding the Catella Sverige Index.

We recruited a fund manager with sustainability responsibility, to ensure and deepen sustainability efforts in the future. The sustainability manager must be a natural partner of the fund managers when collecting information regarding ESG.

Catella has an agreement with Sustainalytics that provides standard-based screening at company level of the portfolio companies included in the funds. We are members of Swesif and participate in the Swedish Investment Fund Association's working group for ownership and sustainability issues. Daily checks are carried out by the risk function, which ensures that the fund has invested only in authorised holdings. Screening with respect to sustainability takes place semi-annually.

The sustainability work is described in an annual report compiled for UNPRI, the UN's Corporate Responsibility Directive and Catella Fondförvaltning AB's Responsible Policy. All funds' holdings are published annually and semi-annually through the funds' Annual and Semi-Annual Reports.

Risk information

Investments in fund units are associated with risk. Past performance is no guarantee of future returns. The money invested in a fund can increase and decrease in value and it is not certain that you will get back the full amount invested. No consideration is given to inflation. The Catella Balanserad, Catella Credit Opportunity and Catella Hedgefond funds are special funds under the Swedish Alternative Investment Fund Managers Act (SFS 2013:561) (AIFM). Catella Sverige Aktiv Hållbarhet and Catella Småbolagsfond may use derivatives, and the value of the funds may vary significantly over time. The value of Catella Sverige Index may vary significantly over time. Catella Avkastningsfond may use derivatives and may have a larger proportion of the fund invested in bonds and other debt instruments issued by individual national and local authorities and within the EEA than other investment funds, in accordance with Chapter 5, Article 8 of the Swedish Investment Funds Act (SFS 2004:46). Catella Nordic Long Short Equity and Catella Nordic Corporate Bond Flex may use derivatives and may have a greater proportion of the funds invested in bonds and other debt instruments issued by individual national and local authorities and within the EEA than other investment funds. For more details, complete prospectuses, key investor information, and annual and half-yearly reports, please refer to our website at catella.se/fonder or phone +46 8 614 25 00.

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